March 16 , 2010,
Dubai, UAE

Company announces over AED 20m profit while seeking consensus on amending

Dubai Islamic Insurance and Reinsurance Company (Aman) hosted their ordinary AGM meeting headed by H.E. Mohamed Bin Omeir Bin Yousif Al Muhairi, Chairman of Aman, was also attended by Hussein Al Meeza, Managing Director and CEO of AMAN, as well as members of the Governing Council in the Godolphin Ballroom in Emirates Towers in Dubai on March 16.

Aman AGM decided to distribute 5% shares as a bonus for its shareholders. Referring to the financial results for the company last year, Al Muhairi said that the company was confident of achieving net profits of AED 20.57 million in 2009, despite the repercussions of the global economic crisis and its impact on the overall economic situation in the region.

As per custom at the annual AGM meeting, the General Assembly was briefed on the Board of Directors report for the financial year of 2009. The report of the Fatwa and Shari'a Supervisory Board of the company for the same period was also presented, as was the Auditors Report on the balance sheet and profit-and-loss account for the financial year of 2009.

The meeting also saw the reappointment of auditors for the fiscal year 2010 and the fixing of remuneration for the auditors..

His Excellency Mohammed bin Omair bin Yousef Al Muhairi, Chairman of Aman expects 2010 to be a year of remarkable improvement and an increase in profit due to the adoption of a security strategy based on increasing the volume of business insurance and diversification of investments. “Aman Insurance is keen on developing products to ensure conformity with Islamic Shari’a rules which meet the needs of its clientele, from private individuals to leading international institutions,” added Al Muhairi. Dubai Islamic Insurance and Reinsurance ( AMAN ) postponed its extraordinary AGM due to the lack of a quorum .

AMAN said in a statement today that the extraordinary AGM will be held in the same place and time at four and half o'clock on 23rd, of March next Tuesday at the Godolphin Ballroom in Emirates Towers Hotel in Dubai.